I tried Mambo on a few sites a few years ago, one of which got hacked by a phisher within a few months (to be fair I hadn't been keeping up with security updates), so I quickly migrated them over to Drupal, which I had started using once the limitations of Mambo became apparent. I had a look at Joomla! soon after it forked from Mambo. It was supposed to have been substantially rewritten, but I couldn't see any significant differences.
My most immediate frustration with Mambo was that there was a lot of hard-coded markup that you couldn't cleanly override without hacking the core system. This may have changed in the last couple of years. Drupal's theming system, even at the time, was an order of magnitude more elegant; not necessarily easier, but much more flexible.
In fact Drupal v Joomla! is not a fair or useful comparison. If you just want a CMS that works out of the box, I'd guess you'd probably find Joomla! a happier experience. If you're a developer or a graphic designer who knows their HTML/CSS/PHP, or if you want to do something beyond the standard features of a CMS, Drupal is for you. It's said that Drupal is an application development framework that just happens to come with a CMS built-in. I was showing Drupal to someone earlier this year and he said, "Hey, this is like Rails!" Moreover much of the recent development in the Drupal ecosystem has been directed towards making it possible to build quite sophisticated database-backed applications without having to do any coding. Someone else once said to me "Hey, this is like Microsoft Access!" (I was a little less happy with this comparison.)
To return to the subject of the parent post, if you are a one-or-two-person web development shop, and you want to do as much as possible while having to support the smallest amount of code, you can't go past Drupal. For any particular problem it may not be the best solution, but it's a satisfactory solution for a vastly wider range of problems than any other system I'm aware of.